EquityPandit’s Outlook for Infosys for the week (October 19, 2015 – October 23, 2015):

INFOSYS:

INFOSYS  (NSE: INFY) closed the week on negative note losing 6.0%.

As we have mentioned last week that the stock has hit a trend-line which was created by joining the earlier highs. So resistance for the stock can be in the range of 1190 to 1200 levels. If the stock manages to close above the levels of 1200 then the stock can move to the levels of 1230. During the week the stock manages to hit a high of 1220 and sold off to the levels of 1095.

Support for the stock lies in the zone of 1060 to 1070 where 100 & 200 Daily SMA are positioned. If the stock closes below this levels then the stock can drift to the levels of 1040 where trend-line support for the stock is lying.

Resistance for the stock lies in the zone of 1130 to 1135 from where the stock has broken down. If the stock manages to close above this levels then the stock can move to the levels of 1160.

Broad range for the stock in the coming week is seen between 1040 to 1060 on downside to 1130 to 1150 on upside.